Brexit is not dead
Brexit is already having its effects, within the financial industry. Banks are preparing to lose their "passports" as the UK leaves the European Union.
A very important German bank, Deutsche Bank, today has communicated that, whatever the outcome from EU/UK negotiations, they are ensuring to be fully prepared for the worse, lose pass-porting and not being able to service any trade going forward.
Regulations state that it will no longer be possible for banks in UK to book the majority of their business with European Economic Area clients through London.
The bank has decided to move its primary booking hub to Frankfurt from London, to enable the continuation of centralised service. A strategic decision for the majority of its Corporate and Investment Banking activities.
Hundreds of traders may be moved out of London, can you imagine the economic impact?
- What do you think?
- Are you a trader in London?
- Speak german? learn now
#brexit #cryptofutureisbrighter
Bests,
Follow / Upvote / Comment / Resteem
Sources:
Let's see what's next...
Interesting....there has not been that much talk about Brexit for quite some time now.... looks like there are still many factors to consider going forward....
Oh yeah this is just the beginning
True, only time will tell what is going to happen....
I don't follow the news much, because I soak everything up like a sponge and I get so depressed.. anyway I took a chance at reading your post @fedescolari. It' was very informative... What can ..only the future can tell!
Hey man yes that is true. I think it is only the beginning though. Big problems ahead for the uk. And EU too. Speak to you soon